Tata International, the trading and distribution arm of the Tata Group, has announced two significant joint ventures with Swiss commodities firm Mercuria and Japan’s Mitsubishi Corporation, in a strategic move to expand its global footprint and sharpen its focus on high-growth sectors.
In the first deal, Mercuria will acquire a 51% stake in a new joint venture with Tata International, focused on the global trade of energy, metals, freight, and agricultural commodities. Tata will hold the remaining 49%. Both partners will invest proportionately in the capital structure of the new entity.
The partnership with Mercuria is aimed at strengthening Tata International’s trading capabilities, improving operational resilience, and expanding into high-potential markets, including Asia, Africa, and the Middle East. It also marks a strategic shift towards asset-light, partnership-driven growth models in response to increasing volatility in global supply chains and commodity markets.
In a parallel development, Tata International is investing $51 million for a 51% stake in a joint venture with Mitsubishi Corporation’s mobility division. Mitsubishi will hold 49% in the new entity, which will focus on the distribution of commercial vehicles, construction machinery, and agricultural equipment, particularly in African markets.
These two ventures align with Tata International’s broader strategy to realign its business around trading and distribution, moving away from capital-intensive operations. The company has already divested its leather and minerals businesses and exited several loss-making subsidiaries in recent years.
Despite strong revenue growth—from ₹16,367 crore in FY20 to ₹32,000 crore in FY25—Tata International reported a net loss of ₹477 crore in the last fiscal year. The company is betting on these joint ventures to restore profitability and improve long-term sustainability.
“These partnerships represent a new phase of growth, leveraging the global strengths of our partners while focusing on key markets and verticals,” said Anand Sen, MD & CEO of Tata International.
The transactions are subject to customary regulatory approvals and are expected to close in the coming months.
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